If you are expecting an inheritance of money or will come into large amounts of money soon, you may be wondering what you should do with this sudden wealth. There are countless examples of how people have squandered their money, but I recently came across one individual who seems to have a good plan. Him name is Joe Flacco, the quarterback of the Super Bowl winning Baltimore Ravens. After signing a six-year contract guaranteeing him $120.6 million dollars, Joe splurged by going to McDonald’s and spending $6.99 on a 10-piece McNugget meal. By my calculation, he could buy a 10-piece McNugget meal every day for the next 47,269 years*!
* Of course, if we calculated income taxes, his money would only last him for about 20,000 years. About as long as McDonald’s food before going bad…
About the Sudden Wealth Financial Advisor
Robert Pagliarini, PhD, CFP®, EA has over 25 years of financial planning and investment management for the suddenly wealthy. Robert is a CFP® Ambassador, one of only 50 in the country, and a real fiduciary. He authored the book The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth in hopes to help those deal with sudden wealth and the emotions that come along with it. In addition to his Ph.D. in financial and retirement planning, he earned a Master's in Psychology to better understand and be equipped when helping clients manage a windfall. He has helped clients from across the United States who have received a windfall from an inheritance, lawsuit settlement, business sale, stock options, sports and entertainment contracts to make sense of their sudden wealth. When he is not helping the suddenly wealthy, you can find him writing personal finance books and articles for Forbes. If you're needing help managing wealth, contact Robert directly.